51吃瓜

Hon’ble Minister, 

Excellencies,  

USG Li, 

Distinguished Colleagues, 

I would like to join the previous speakers in wishing you all a warm welcome today. As Special Advisor for the Fourth International Conference on Small Island Developing States (SIDS) to be held in Antigua and Barbuda, it is an honour to work alongside Prime Minister Fiamē Naomi Mata?afa (and her team) and USG LI Junhua in preparation for the upcoming SIDS4 Conference. I would like to acknowledge the strong leadership and commitment of the Government of Antigua and Barbuda [and Amb. Webson and his team] as host, to make the Conference a success. And I commend Ambassador Luteru, the Chair of AOSIS, and his able team for their leadership and hard work for the substantive preparations of the Conference.  

Excellencies,  
Distinguished Colleagues, 

We are less than 6 months away from the Conference. Its theme - Charting the course toward resilient prosperity - captures the urgency of the work ahead of us. This is especially the case, with the chances of limiting global warming to less than 1.5 degrees quickly going out of reach – the time for action is now. We all know that Small Island Developing States have contributed the least to the climate crisis, yet they bear the heaviest brunt of its effects. Over the past fifty years, these countries have lost $153 billion due to weather, climate, and water related hazards. Having access to adequate climate financing will be key to not only helping SIDS recover losses but also realize their full potentials. Despite this clear need, climate finance for SIDS remains shockingly low - only 2 percent of climate financing went to island nations in 2019. The frequency, intensity, and scale of climate related disasters have negatively impacted debt to GDP ratios in SIDS, stalling their progress in sustainable development. To overcome the crisis and build resilience, SIDS themselves have taken many proactive actions. In the Pacific for example, these nations have established the Pacific Resilience Facility, and a similar facility is under consideration in the Caribbean. SIDS have also set out ambitious mitigation and adaptation targets in their NDCs. But they require enhanced financing to achieve those targets. It was estimated in 2021 that the cost of implementation of their NDCs will be roughly $92 billion. The figure, however, does not account for the 58% of the SIDS targets that have not yet been costed. To mitigate this growing financing gap, it is imperative to urgently deliver on the pledges made by the international community. These include a commitment by the developed countries to mobilize 100 billion dollars on climate financing each year and doubling adaptation finance from 2019 levels by 2025. We are off to a good start here in Dubai: On day 1, we agreed to operationalize the Loss and Damage Fund. We also welcome the pledges of over $420 million to the Fund in these first days. However, we know that more needs to be done.  

Yesterday, my Office organized an event on Loss and Damage, together with AOSIS, where we discussed ways and means to address the critical financing needs of the SIDS in this area. With the loss and damage in developing countries estimated to be greater than $400bn annually, and only expected to rise in the coming decades, pledges without action will not do. There is also work to be done to ensure that vulnerable countries can access the Fund.  

Excellencies,  
Considering the scale and complexity of this issue, we must push for more progress. Reforms to both financing instruments and debt mechanisms for SIDS are necessary to help them adapt to the threat of climate change and encourage sustainable development – proposals like the Bridgetown Initiative are an important step in this direction. Further, the establishment of a new collective quantifiable goal on climate finance, considering the needs and priorities of SIDS, is also key. We need to fully explore SIDS-specific special financing vehicles in the MDBs, IFIs and other financial institutions like the GCF that allow for enhanced access for these countries. And we must seriously consider new tools like the Multidimensional Vulnerability Index (MVI), which has the potential to help SIDS and other vulnerable countries access concessional finance and address debt.  
 

Excellencies,  
Distinguished Colleagues, 

Together with UN-DESA, my Office will support SIDS as they develop their Programme of Action for the next decade. Measures to mobilize enhanced climate financing for SIDS will be at the top of our agenda. As I close, I would like to emphasize the importance of partnerships to turn promises and pledges into concrete actions. We need deep engagement with all stakeholders and development partners to make progress on climate finance for SIDS – this includes the IFIs, MDBs, and the Private Sector. As the SIDS4 conference rapidly approaches, we can build on the gains we will make here in Dubai, to make climate finance work for SIDS.  Let us make the best of this opportunity. I will rest it here – I am looking forward to a fruitful discussion here today.   

I thank you.